Deutsche Bank Aktiengesellschaft Raises Boston Scientific (NYSE:BSX) Price Target to $73.00

Boston Scientific (NYSE:BSX) had its target price raised by investment analysts at Deutsche Bank Aktiengesellschaft from $63.00 to $73.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has a “hold” rating on the medical equipment provider’s stock. Deutsche Bank Aktiengesellschaft’s target price suggests a potential downside of 0.18% from the stock’s previous close.

Several other research analysts have also commented on the company. JPMorgan Chase & Co. raised their price target on Boston Scientific from $60.00 to $72.00 and gave the stock an “overweight” rating in a research report on Thursday, February 1st. Needham & Company LLC raised their price target on Boston Scientific from $71.00 to $82.00 and gave the stock a “buy” rating in a research report on Wednesday. Citigroup increased their price target on shares of Boston Scientific from $71.00 to $79.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. Royal Bank of Canada lifted their price objective on shares of Boston Scientific from $78.00 to $82.00 and gave the company an “outperform” rating in a report on Thursday. Finally, StockNews.com downgraded shares of Boston Scientific from a “buy” rating to a “hold” rating in a research note on Saturday, March 16th. Three equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Boston Scientific presently has a consensus rating of “Moderate Buy” and an average price target of $75.09.

Boston Scientific Price Performance

BSX stock opened at $73.13 on Thursday. The business has a fifty day moving average of $67.82 and a two-hundred day moving average of $60.51. The company has a quick ratio of 0.82, a current ratio of 1.32 and a debt-to-equity ratio of 0.44. The stock has a market cap of $107.29 billion, a price-to-earnings ratio of 61.45, a price-to-earnings-growth ratio of 2.48 and a beta of 0.78. Boston Scientific has a 52-week low of $48.35 and a 52-week high of $74.39.

Boston Scientific (NYSE:BSX) last posted its earnings results on Wednesday, January 31st. The medical equipment provider reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.04. The company had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.59 billion. Boston Scientific had a return on equity of 16.63% and a net margin of 12.06%. During the same quarter last year, the firm earned $0.45 earnings per share. As a group, research analysts anticipate that Boston Scientific will post 2.32 earnings per share for the current year.

Insider Activity

In other news, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $66.89, for a total value of $467,092.87. Following the sale, the executive vice president now directly owns 56,508 shares in the company, valued at approximately $3,779,820.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP John Bradley Sorenson sold 16,351 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $69.30, for a total value of $1,133,124.30. Following the transaction, the executive vice president now directly owns 50,638 shares of the company’s stock, valued at approximately $3,509,213.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $66.89, for a total transaction of $467,092.87. Following the completion of the transaction, the executive vice president now directly owns 56,508 shares in the company, valued at $3,779,820.12. The disclosure for this sale can be found here. In the last three months, insiders have sold 50,979 shares of company stock worth $3,418,529. 0.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Pinnacle Associates Ltd. grew its position in shares of Boston Scientific by 2.0% in the 1st quarter. Pinnacle Associates Ltd. now owns 7,478 shares of the medical equipment provider’s stock valued at $512,000 after buying an additional 148 shares during the last quarter. BSW Wealth Partners grew its position in shares of Boston Scientific by 2.3% in the 4th quarter. BSW Wealth Partners now owns 7,398 shares of the medical equipment provider’s stock valued at $428,000 after buying an additional 165 shares during the last quarter. Allstate Corp grew its position in shares of Boston Scientific by 2.9% in the 4th quarter. Allstate Corp now owns 5,938 shares of the medical equipment provider’s stock valued at $343,000 after buying an additional 165 shares during the last quarter. First Affirmative Financial Network grew its position in shares of Boston Scientific by 4.3% in the 1st quarter. First Affirmative Financial Network now owns 4,028 shares of the medical equipment provider’s stock valued at $276,000 after buying an additional 166 shares during the last quarter. Finally, Valley National Advisers Inc. grew its position in shares of Boston Scientific by 2.3% in the 4th quarter. Valley National Advisers Inc. now owns 7,526 shares of the medical equipment provider’s stock valued at $435,000 after buying an additional 170 shares during the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Boston Scientific Company Profile

Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through two segments, MedSurg and Cardiovascular. The company offers devices to diagnose and treat gastrointestinal and pulmonary conditions, such as resolution clips, biliary stent systems, stents and electrocautery enhanced delivery systems, direct visualization systems, digital catheters, and single-use duodenoscopes; devices to treat urological conditions, including ureteral stents, catheters, baskets, guidewires, sheaths, balloons, single-use digital flexible ureteroscopes, holmium laser systems, artificial urinary sphincter, laser system, fiber, and hydrogel systems; and devices to treat neurological movement disorders and manage chronic pain, such as spinal cord stimulator system, proprietary programming software, radiofrequency generator, indirect decompression systems, practice optimization tools, and deep brain stimulation system.